Tuesday August 15, 2023
◾ The Monetary Authority of Singapore released a regulatory framework for stablecoins. (Mas.gov)
◾ The SEC delayed a decision on ARK 21Shares spot bitcoin filing. (Sec.gov)
◾ Coinbase launched an exchange into Canada. (Coinbase)
Government & NGO Actions
◾ The FDIC’s 2023 Risk Review includes a new section focused on crypto-asset risks. (Fdic.gov)
◾ Russia plans to test the digital ruble in 11 cities. (News.bitcoin)
◾ Brazil is looking to tax crypto holdings by nationals held overseas. (Finbold)
◾ The Reserve Bank of Zimbabwe is in the final stages of its plan to launch a gold-backed digital currency. (Beincrypto)
◾ The CFTC filed a complaint against the principles behind Fundsz accusing them with fraudulently soliciting clients to trade crypto and precious metals. (Cftc.gov)
◾ Representative Adriano Espaillat (D-NY) proposed legislation to insure that AI promotes “inclusion and representation of underserved populations” and does not become a tool of “digital colonialism.” (Foxnews)
◾ Republican presidential candidate Vivek Ramaswamy said he is an opponent of CBDCs calling them a “trojan house of the Great Reset and …a clear path to a social credit system.” (X)
Public Company Releases
◾ Hut 8 Mining (HUT) decreased revenue to $19.2 million in Q2 sliding EBITDA into negative territory at $2.6 million. (PRnewswire)
◾ Hut 8 Mining (HUT) generated 116 bitcoin in July selling 100 during the period. (PRnewswire)
◾ TeraWulf grew revenues to $15.5 million increasing adjusted EBITDA to $7.6 million in the second quarter. (Globenewswire)
◾ Credit card and crypto wallet provider CompoSecure (CMPO) increased net sales 1% to $98.5 million but saw EBITDA slip to $26.9 million. (Globenewswire)
◾ Galaxy Digital reported preliminary AUM at the end of July were flat at $2.4 billion for the fifth month in a row. (Galaxy)
◾ Sphere3D (ANY) reported Q2 revenue of $5.5 million and a loss from operations of $4.6 million. (Sphere3D)
◾ Digihost (DGHI) posted revenues of $7.5 million and EBITDA of $3.1 in Q2. (Globenewswire)
◾ BTCS (BTCS) reported of $0.4 million was down 25% y-o-y driving a new loss of $1.0 million. (Globenewswire)
◾ Crypto ATM provider Bitcoin Depot generated revenues of $197.5 million and EBITDA of $19.8 million in Q2. (Bitcoindepot)
Restructuring, Losses and Legal News
◾ Prime Trust filed for Chapter 11 bankruptcy in Delaware. (Businesswire)
◾ Celsius received court approval to send it bankruptcy plan to creditors for a vote. (Reuters)
◾ Sam Bankman-Fried is back in jail after the judge revoked his bail. (NYTimes)
◾ Federal prosecutors accused Sam Bankman-Fried of using customer money to make more than $100 million in political campaign contributions around the 2022 US elections. (Reuters)
◾ Former FTX executive Ryan Salame will not testify under oath about his role in an alleged illegal campaign donation scheme at FTX. (Bloomberg)
◾ Coindesk is reducing its workforce ahead of its reported sale. (Techcrunch)
◾ New Zealand-based crypto exchange Dasset is entering liquidation. (Cointelegraph)
AI Announcements
◾ OpenAI discontinued its classifier that distinguished between AI and human-written text because it was “not fully reliable.” (Medium)
Protocols, Applications & Business News
◾ Visa is introducing a way for customers to pay for gas fees using a credit card. (Visa)
◾ Custodia bank is opening up services to accept US dollar deposits and offer money market funds. (X)
◾ Binance filed for a protective order against the SEC claiming the regulator's requests for information were "over broad" and "unduly burdensome". (Reuters)
◾ San Francisco-headquartered Jacobi Asset Management listed Europe’s first spot bitcoin ETF in Amsterdam. (Businesswire)
◾ Cameron Winklevoss accused DCG of using “carefully crafted statements that are incredibly revealing” and a legal “brief written by a law school student conjuring up technical legal defenses in a vacuum” in attempting to throw out a suit by Gemini. (X)